May 31, 2007
Got this interesting email from TopCoder a few days back:
After the match, I moved back up to Division 1. Part of me wishes I hadn't, because I've had success in Division 2 before, and staying in Division 2 gives me my best chance of winning more prizes. But there's no way I'm tanking intentionally; I've still got coder's pride after all.
Hello punzki,Sweet! This was after I'd dropped to Division 2 (again) and placed 1st in my room and 5th overall in SRM 350. I was excited about finally winning some TopCoder cash, until I found out about all the paperwork I need to accomplish within 60 days, and that TopCoder will withhold 30% in taxes from my winnings. Still, $22.40 is money well-earned and I plan on using it to celebrate a bit.
Congratulations! The results of TopCoder SRM 350 are official. You have
won $32.0 (sic).
After the match, I moved back up to Division 1. Part of me wishes I hadn't, because I've had success in Division 2 before, and staying in Division 2 gives me my best chance of winning more prizes. But there's no way I'm tanking intentionally; I've still got coder's pride after all.
You can fill up Form W-8BEN to get away with the withholding tax by TC (but you have to pay your taxes here). This is only for a select countries (and Philippines is one of them).
Hey, thanks man! Whoever you are. :)